Embrapa receives $260k for investment in Vegetal Quarantine

Embrapa received an investment of $260.000 in Vegetal Quarantine. The funds were transferred to Embrapa Genetic Resources and Biotechnology by the Ministry of Agriculture, Livestock and Supply (MAPA) to complete the building of one of the most important services to agriculture in Brazil, responsible for having blocked the entry of more than 90 exotic pests into the country: the National Quarantenial Laboratory of Embrapa Station.

Source: Portal do Agronegocio

BNDES approves $740 mm to build thermoelectric plant in the Port of Açu

BNDES approved a R$3.93 billion ($740 mm) financing for Gás Natural Açu to build the GNA II thermoelectric plant at the Port of Açu, in northern Rio de Janeiro state. The bank detailed that the thermal plant will have a total installed capacity of 1.6 gigawatts (GW) and will integrate the project of the liquefied natural gas (LNG) generation park under development in the port.

Source: G1

Solfácil intends to launch FIDC and finance $186 mm in 2021

Fintech Solfácil expects to reach R$ 1 billion ($186 mm) in funding for distributed generation photovoltaic systems in 2021 – 10 times more than the R$ 100 million ($18.6 mm) in 2020. The company plans to launch a green rights investment fund (FIDC) this year to raise funds. Currently, resources for loans come from debenture and bond issues. The company had an average monthly growth of 30% in 2020, with a single line of residential financing.

Source: Energia Hoje

Ford has $62 mm in loans with BNDES

BNDES said it has two direct financing contracts with Ford, totalling R$335 million ($62 mm). According to the bank, the services were contracted in 2014 and 2017 and were aimed at projects to develop new products of the automaker in the country. The bank contacted the company to ask for further clarifications about the closure of the plants and is waiting for an answer to assess the impacts.

Source: Folha

Sinqia to invest $9.3 mm in startups

Sinqia, a leading technology and innovation company for the financial market, will invest more than R$50 million ($9.3 mm) in innovation and startups through Corporate Venture Capital (CVC) funds from 2021 onwards. The company announced the launch of Torq Ventures, the company’s innovation hub and now investment hub.

Source: Money Times

Ford’s departure from Brazil will have a impact of $4.1 bn

Ford’s decision to shut down production in Brazil will have a financial impact of approximately $4.1 billion in non-recurring expenses, according to information released by the automaker. Of the total, approximately $2.5 billion will have a direct impact on the cash flow of the U.S. group, mostly related to compensation, termination, agreements and other payments. Another $1.6 billion will come from the accounting impact attributed to the write-off of tax credits, accelerated depreciation and amortisation of fixed assets.

Source: UOL

Government eases collection of $55.5 bn in debts

The federal government suspended, renegotiated or postponed the collection of instalments of almost R$300 billion ($55.5 bn) in debts it had to receive from companies and individuals in 2020. Since March, the Attorney General’s Office of the National Treasury (PGFN) has adopted flexible measures to collect debt to reduce pressure on debtors who lost revenue amid the pandemic. The fiscal aid covered small to large debtors, with debts starting at R$15 million ($2.7 mm).

Source: Valor Intenational